On August 24, REMEGEN fell 5.13% in regular trading, trading at 74.9 HKD/share, with turnover of HKD 184 million. The decline coincided with the board meeting convened to approve interim results for the first half of the year.

The company previously disclosed half-year revenue of approximately RMB 58.5 billion and net profit of approximately RMB 47 billion, representing a year-over-year swing to profitability. However, the bulk of the revenue increase stemmed from technology licensing income recognized under the exclusive licensing agreement with AbbVie for RC148, raising market concerns over the one-time, non-recurring nature of the BD income. Additionally, the company earlier withdrew the registration application for its RC28-E ophthalmic injection, signaling setbacks in its ophthalmology pipeline.

Sector-wide weakness compounded selling pressure. Within the Biotechnology sector, INNOVENT BIO fell 1.95%, AKESO fell 1.39%, BEONE MEDICINES fell 2.81%, while EVEREST MED rose 1.84% and 3SBIO rose 1.01%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)